Western Asset Investment Grade Defined Opportunity Trust Inc. Raises $218.5 Million, Starts Trading on NYSE

Western Asset Investment Grade Defined Opportunity Trust Inc. (the �Fund�) announced today the successful completion of its initial public offering. The Fund raised approximately $218.5 million in its common share offering, assuming full exercise of the underwriters� overallotment option, which may or may not occur. Its shares began trading today on the New York Stock Exchange under the symbol �IGI.�

The Fund�s primary investment objective is to provide current income and then to liquidate and distribute substantially all of the Fund�s net assets to stockholders on or about December 2, 2024. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund will achieve its investment objectives.

The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed income securities of varying maturities. While the Fund may invest up to 20% of its net assets in below investment grade securities, the portfolio�s average overall credit quality will be investment grade.

�IGI represents a timely opportunity to take advantage of the current attractive valuation of bonds issued by blue chip companies with strong fundamentals,� stated Matt Schiffman, Head of Retail Americas for Legg Mason. �This, combined with Western Asset�s rigorous fundamental credit research and emphasis on risk management, provides investors with a high-quality, income-oriented investment.�

Western Asset Investment Grade Defined Opportunity Trust Inc. is managed by Legg Mason Partners Fund Advisor, LLC (�LMPFA�), a wholly owned subsidiary of Legg Mason, Inc. (�Legg Mason�), and is sub-advised by Western Asset Management Company (�Western Asset�), an affiliate of LMPFA.

The underwriting syndicate was led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., and Wachovia Capital Markets, LLC.

For more information, contact the Fund at 1-888-777-0102 or visit the Fund�s web site at www.leggmason.com/cef

About Legg Mason

Legg Mason is a global asset management firm with $632.4 billion in assets under management as of March 31, 2009. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol:LM).

About Western Asset

Western Asset is one of the world's premier fixed-income managers. With offices in Pasadena, New York, London, Tokyo, Singapore, Hong Kong, Melbourne and Sao Paulo, Western Asset offers institutional and retail clients a full range of fixed-income products. By devoting all of its resources to fixed-income, Western Asset is able to provide a full commitment to its clients in every area of the firm. Western Asset's long performance track record and global presence has them positioned to continue their commitment to excellence in fixed-income investment management and client service. As of March 31, 2009, Western Asset had $473.4 billion in assets under management; $90 billion was invested in corporate fixed income securities.

The Fund is a newly organized, non-diversified, closed-end management investment company. Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus, which contains this and other information about the Fund, should be read carefully before investing. A copy of the final prospectus relating to these securities may be obtained by contacting your financial advisor.

Shares of closed-end investment companies, like the Fund, usually trade on a national stock exchange. Similar to stocks, the Fund�s share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of closed-end funds often trade at a discount to their net asset value.

Western Asset Investment... (NYSE:IGI)
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